Despite falling to the Boston Celtics in the second round, the Toronto Raptors have decided to reward head coach Nick Nurse with a hefty extension. According to reports, the newly-crowned Coach of the Year's new deal has just made him one of the best-paid coaches in the entire league.

The Athletic's Shams Charania provided the details of Nurse's new contract:

Raptors coach Nick Nurse signed a new multiyear contract extension on Tuesday — a deal that pays him around $8 million per year, sources say. This makes Nurse among the highest-paid coaches in the NBA.

According to Essentially Sports, legendary San Antonio Spurs head coach Gregg Popovich is currently the highest-paid coach in the league, with his $11 million per year deal. Steve Kerr of the Golden State Warriors is a distant second with $9.5 million per season. Miami Heat shot-caller Erik Spoelstra and Rick Carlisle round out the Top 4 with $8.5 million and $8 million per year, respectively.

Nick Nurse's new deal places him in the Top 5 of the highest-paid coaches in the entire league, and rightfully so. Nurse has proven that he has become one of the best in the NBA — despite just recently completing only his second year in the league. Winning the NBA championship in his debut season is not a bad addition to his resume as well.

The Raptors are expected to make a few roster changes on their team during the offseason, as they hope to avenge their disappointing 2019-20 campaign. With Nurse at the helm, however, the future is certainly bright for this franchise.